Mid Atlantic Financial Management, Inc. (Pittsburgh)

Mid Atlantic Financial Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, pension consulting services, and selection of other advisers. It prepares financial plans for more than 250 clients. On top of advisory services, the firm doesn't engage in other business activities.

Mid Atlantic Financial Management: assets under management

The assets under management (AUM) of Mid Atlantic Financial Management, Inc. is $2.43 billion. The firm's AUM has grown by 1081% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $1.98 billion in discretionary accounts and $450.65 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $233.31 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.03 million.

Investments

The firm invests in investment and business development companies the most. They account for 73% of the total AUM. The second-largest asset type is exchange traded securities, which make up 17% of the firm’s portfolio. Investments in cash and cash equivalents form 7% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Mid Atlantic Financial Management, Inc. for their services and products based on a percentage of assets under management, hourly charges, fixed fees, and commissions. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients David John Down serves?

The firm provides services to individuals, insurance companies, charitable organizations, high net worth individuals, pooled investment vehicles, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of David John Down is individuals with 3,942 clients and $809.97 million of assets under management. Among the 10 most similar advisory firms, Mid Atlantic Financial Management has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $2.43 billion for 4,732 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Mid Atlantic Financial Management also advises several private funds. Namely, one other private fund. The minimum investment commitment required of non-related persons is $250,000 for each fund.

Careers at Mid Atlantic Financial Management, Inc.

The company employs 101 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 101 employees are registered as investment adviser representatives with the state securities authorities.

There are 8 people with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

David John Down has been acting as President since 1 Mar 1997. Tenzing Thomas Deck joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Indirect Owners

The SEC currently registers 7 indirect owners.

Based in Pittsburgh

The principal office where Mid Atlantic Financial Management, Inc. performs its advisory services is located at 1251 Waterfront Place, Pittsburgh, PA 15222 4235, which is also the mailing address of the firm. An additional office of the firm is in Stuart, FL. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 412-391-7077 or by fax 412-391-7220. The normal business hours are 8:30 am to 5:30 pm on Monday - Friday. You can find more information about the New York firm at macg.com.

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